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How to Get The Raise You Deserve?
No matter how badly we may want (or feel we deserve) a raise,
most of us are hesitant when it comes to asking for one. And
let's face it, most employers do not increase employees
compensation unless they feel they need to. But a proactive
approach could help you get the raise you deserve, when you
deserve it. Review your contribution to your company, determine
your worth and use the following tips to get yourself a raise.
Build your case
1. Review
your job description. Have you taken on new responsibilities
since your last raise (or since you were hired)? Has your
productivity increased over time? Are you doing work that people
in positions above you usually do? Keep a record of the projects
you work on, and any special achievements. Be ready to quantify
your achievements when you speak with your boss, and have plenty
of examples to refer to. Be sure to show how your efforts have
benefited the company in order to prove that you deserve a
raise.
2. Determine
your market worth. Knowing your market value is important.
Compare your compensation with that of others in your industry
and position. If you are not sure how to get this information,
try posting an anonymous question on a message board or chat
website.
3. Consider
your worth to the company. Would you be hard to replace?
Review what you, your team, or your department contributes to
your company. Is it something that could be easily outsourced?
If your company were to downsize, would your team survive the
cuts?
4. How do
you feel about your job and your company? If you have issues
with the benefits, the hours, your boss, and your prospects for
the future, you might review whether you really want a raise or
a new job altogether. But if your only complaint is the salary,
think about other things you would accept if your boss won't
offer you more money.
Negotiation tips
1. Timing is
everything. Once you've decided to ask for a raise, set up a
meeting with your boss at a time that is convenient for him or
her. If you can, try to arrange it for a time that your boss
will be most receptive. For example, if your boss has stressful
meetings every Tuesday, schedule it for another day. Let your
boss know what you plan to talk about so he or she will be
mentally prepared for the meeting.
2. Put
together a written proposal, enumerating your contributions
to the company, and how you've improved over time. Point to as
many bottom-line achievements as you can. If you have brought in
new clients, developed new ideas, or streamlined a process,
point it out. Refer to your skills, talents and market value
(along with the sources of your information), and give your boss
a range of what you feel is fair compensation - realizing that
you will probably get something towards the low end.
3. Be
reasonable and professional. Check your ego at the door, and
try not to tie your self-image to your salary. Even if you're
completely dissatisfied by your employer's offer, don't threaten
to quit or start sending out resumes. It's a small world - don't
earn yourself a bad reputation, and don't burn any bridges.
4. Be
patient. Don't expect an answer immediately. And remember
the larger the company, the longer it will take. In the
meantime, keep up the good work. Remind your boss why you
deserve a raise.
5. Be
prepared to compromise. If your boss agrees to give you an
increase that you don't find acceptable, look for a compromise.
Would you give up some cash for equity, fully paid health
insurance, or the opportunity to work more reasonable hours?
If, after all
the negotiations, you're still dissatisfied, start looking for a
new job. If your employer doesn't recognize your talents,
someone else probably will. In Vietnam's competitive job market,
you're likely to get a raise even if you make a lateral move.
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